I have been watching XCAD since the beginning of the reversal movement after the last 3 month price drop.
At the moment the asset is in the zone of semi-annual trading in the same area there is an important global Fibo level of 0.236 which is now a support level for the price as well as EMA 200.
And at the same time there is a global descending trend line and a local Fibo level of 0.618, which at the moment will serve as a resistance level until it is broken.
To continue the upward movement the asset needs to consolidate above $1.34. After that the way up will be opened.
The first target is in the area of ~$1.77 The second target is around ~$2.12. The third one is around ~$3.32.
If the asset fails to break the downtrend, we can expect a pullback to 0.382 - 0.236 Fibo.
What do you think?
This is not a financial recommendation, everything you do is at your own risk.
@CryptoBanker007, Hi. Now we can expect a decline to 0.382 Fibo ($1.01) after consolidation above this support level there will most likely be a rebound to the global resistance level - $1.2046.